Hager Investment Management Services LLC Purchases New Position in Blackstone Inc. (NYSE:BX)

Hager Investment Management Services LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 162 shares of the asset manager’s stock, valued at approximately $28,000.

Several other large investors also recently bought and sold shares of BX. Glen Eagle Advisors LLC grew its stake in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its holdings in shares of Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BX. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Up 2.4 %

Shares of Blackstone stock opened at $174.99 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business has a 50 day moving average price of $179.34 and a 200 day moving average price of $163.11. The company has a market capitalization of $126.34 billion, a P/E ratio of 48.21, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts anticipate that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 94.77%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.